Can I retire at age 64 with 893,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $893,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$73,743$73,086$72,445$71,820$71,209$70,232
2 years$36,506$35,827$35,168$34,529$33,909$32,926
3 years$24,096$23,413$22,756$22,123$21,513$20,556
4 years$17,892$17,211$16,560$15,938$15,343$14,418
5 years$14,170$13,494$12,852$12,242$11,664$10,773
6 years$11,690$11,019$10,386$9,790$9,229$8,375
7 years$9,919$9,253$8,631$8,049$7,506$6,688
8 years$8,592$7,932$7,320$6,752$6,227$5,445
9 years$7,560$6,906$6,304$5,751$5,244$4,498
10 years$6,735$6,087$5,496$4,958$4,468$3,758
11 years$6,060$5,419$4,839$4,315$3,843$3,167
12 years$5,498$4,864$4,294$3,785$3,330$2,688
13 years$5,023$4,396$3,837$3,341$2,904$2,295
14 years$4,616$3,996$3,447$2,966$2,545$1,969
15 years$4,264$3,650$3,112$2,645$2,241$1,696
16 years$3,956$3,349$2,822$2,368$1,981$1,466
17 years$3,685$3,084$2,568$2,128$1,756$1,270
18 years$3,444$2,850$2,344$1,918$1,562$1,103
19 years$3,229$2,641$2,146$1,733$1,392$961
20 years$3,035$2,454$1,969$1,569$1,243$838
21 years$2,860$2,286$1,811$1,424$1,113$732
22 years$2,701$2,134$1,670$1,295$997$640
23 years$2,557$1,996$1,542$1,179$895$560
24 years$2,424$1,870$1,426$1,076$805$491
25 years$2,302$1,755$1,320$982$724$431
26 years$2,190$1,649$1,225$898$652$378
27 years$2,086$1,552$1,137$822$588$332
28 years$1,990$1,463$1,057$753$531$292
29 years$1,901$1,380$984$691$479$257
30 years$1,818$1,303$916$634$433$226
31 years$1,740$1,232$854$582$391$199
32 years$1,667$1,166$797$535$354$175
33 years$1,599$1,104$744$492$320$154
34 years$1,535$1,046$695$453$290$136
35 years$1,475$992$650$417$263$120
36 years$1,418$942$608$384$238$105
37 years$1,365$895$569$354$216$93
38 years$1,314$850$533$326$196$82
39 years$1,266$808$499$301$177$72
40 years$1,221$769$468$277$161$64
41 years$1,178$732$439$256$146$56
42 years$1,137$697$412$236$132$50
43 years$1,098$664$386$218$120$44
44 years$1,061$633$363$201$109$39
45 years$1,026$604$341$186$99$34
46 years$992$576$320$172$90$30
47 years$960$550$300$159$82$26
48 years$929$525$282$147$74$23
49 years$900$501$265$135$67$21
50 years$872$479$250$125$61$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $893,000, adding $4,753 every year, while hoping to spend $56,666 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 69/7/24 Blend
63$893,000$893,000$893,000$893,000
64$988,989$941,660$927,818$1,050,888
65$1,029,573$927,509$898,608$1,078,800
66$1,072,398$910,765$866,520$1,102,330
67$1,117,633$891,242$831,398$1,126,740
68$1,165,460$868,742$793,079$1,152,116
69$1,216,081$843,055$751,391$1,178,551
70$1,269,716$813,959$706,157$1,206,154
71$1,326,604$781,220$657,190$1,235,042
72$1,387,006$744,589$604,295$1,265,348
73$1,451,210$703,803$547,268$1,297,221
74$1,519,529$658,584$485,897$1,330,825
75$1,592,306$608,639$419,959$1,366,346
76$1,669,916$553,658$349,222$1,403,988
77$1,752,770$493,310$273,445$1,443,981
78$1,841,321$427,250$192,373$1,486,578
79$1,936,061$355,111$105,743$1,532,065
80$2,037,533$276,505$13,279$1,580,755
81$2,146,331$191,024$0$1,633,000
82$2,263,107$98,234$0$1,711,058
83$2,388,576$0$0$1,798,544
84$2,523,524$0$0$1,892,794
85$2,668,814$0$0$2,002,449
86$2,825,391$0$0$2,120,661
87$2,994,296$0$0$2,248,220
88$3,176,672$0$0$2,385,995
89$3,373,775$0$0$2,534,939
90$3,586,984$0$0$2,696,101
91$3,817,817$0$0$2,870,634
92$4,067,941$0$0$3,059,804
93$4,339,190$0$0$3,265,005
94$4,633,581$0$0$3,487,769
95$4,953,330$0$0$3,729,781
96$5,300,879$0$0$3,992,896
97$5,678,910$0$0$4,279,153
98$6,090,377$0$0$4,590,797
99$6,538,528$0$0$4,930,296
100$7,026,939$0$0$5,300,367